LimeTree Capital Partners, the alternative real estate specialist investment management firm, has hired Joyce Lo as a director.
Lo started in the role at the Hong Kong-based firm last week after moving from Palmer Capital Asia, the Asia investment manager co-owned on a 50:50 basis by UK-based real estate venture capital and fund management firm Palmer Capital and its management. The Asia Palmer business was discontinued around the turn of the year after the two sides agreed to separate. Palmer Capital, which simultaneously ceased operating a European business too, now is entirely focused on investments in its home UK market.
At LimeTree, Lo will be responsible for investor and business development, areas in which she has considerable experience from prior roles. Prior to Palmer Capital, which she joined in 2014, Lo, a former Lehman Brothers executive, worked for Sniper Capital, a Macau-focused real estate investment manager and PGIM Real Estate, the real estate business of US financial services firm Prudential.
In LimeTree, Lo is joining a firm which most recently made the headlines at the end of last year, when it made its first outlay in Japan with the acquisition of the Shiki hotel and apartments in Niseko. Senior partner Ewan Munro described the deal as a “natural continuation of our beachfront land investment strategy of tourism-driven investments across Asia.”
The firm currently manages approximately $1 billion of assets via five funds, the most recent of which was a car parks-focused fund. That fund closed in 2014 on $339 million, a higher amount than the firm originally targeted. LimeTree was formed in 2006 with a principle focus on alternative real estate strategies. It has offices in Shanghai, Bangkok and Hong Kong, the latter of which Lo will be based.